Carvana Slides as Softer Full-Year Profit Outlook Overshadows Record Q2

Carvana Co. (CVNA) is down 3.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is fallout from Carvana’s late-July earnings release, where record sales and profit were overshadowed by a full-year adjusted EBITDA outlook that appears to have landed below many investors’ expectations. The stock also faced pressure from post-earnings price-target cuts, suggesting the market is reassessing how much upside remains after the company’s strong operational run.

Details:

Carvana posted record second-quarter 2026 results, including 197,325 retail units sold, $7.376 billion in revenue, $513 million in net income, and $769 million in adjusted EBITDA.

Management said it expects a sequential increase in retail units sold in the third quarter and projected full-year 2026 adjusted EBITDA of $2.7 billion to $3.0 billion.

Even with those headline records, investors focused on the profit outlook as not strong enough relative to elevated expectations, which helped trigger a sharp post-earnings selloff that has continued to weigh on shares.

Analysts trimmed targets after the report, with at least some firms lowering their valuation assumptions for the second half of 2026, reinforcing the weaker near-term sentiment.

Sources:

Carvana, Yahoo Finance, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CVNA Insider Trading Activity

$CVNA insiders have traded $CVNA stock on the open market 154 times in the past 6 months. Of those trades, 2 have been purchases and 152 have been sales.

Here’s a breakdown of recent trading of $CVNA stock by insiders over the last 6 months:

MARK W. JENKINS (Chief Financial Officer) has made 0 purchases and 65 sales selling 229,500 shares for an estimated $25,970,290.
BENJAMIN E. HUSTON (Chief Operating Officer) has made 0 purchases and 63 sales selling 180,000 shares for an estimated $20,346,711.
STEPHEN R PALMER (Vice President of Accounting) has made 0 purchases and 16 sales selling 18,000 shares for an estimated $2,054,867.
THOMAS TAIRA (President, Special Projects) has made 0 purchases and 3 sales selling 10,320 shares for an estimated $1,971,133.
J DANFORTH QUAYLE has made 0 purchases and 2 sales selling 17,425 shares for an estimated $1,915,663.
MICHAEL E MAROONE has made 2 purchases buying 25,000 shares for an estimated $1,544,981 and 1 sale selling 2 shares for an estimated $621.
IRA J. PLATT has made 0 purchases and 2 sales selling 15,000 shares for an estimated $1,017,375.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$CVNA Hedge Fund Activity

We have seen 389 institutional investors add shares of $CVNA stock to their portfolio, and 486 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO removed 30,651,145 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $1,927,221,393
CAPITAL RESEARCH GLOBAL INVESTORS added 25,747,760 shares (+90.3%) to their portfolio in Q1 2026, for an estimated $1,618,916,157
CAPITAL INTERNATIONAL INVESTORS added 16,639,915 shares (+inf%) to their portfolio in Q1 2026, for an estimated $1,046,251,295
BLACKROCK, INC. removed 9,165,875 shares (-15.9%) from their portfolio in Q2 2026, for an estimated $603,297,892
COATUE MANAGEMENT LLC removed 9,110,145 shares (-93.0%) from their portfolio in Q1 2026, for an estimated $572,809,477
ASPEX MANAGEMENT (HK) LTD added 9,095,450 shares (+inf%) to their portfolio in Q1 2026, for an estimated $571,885,514
FMR LLC added 7,424,130 shares (+24.9%) to their portfolio in Q1 2026, for an estimated $466,799,597

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$CVNA Congressional Stock Trading

Members of Congress have traded $CVNA stock 3 times in the past 6 months. Of those trades, 1 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $CVNA stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 2 times. They made 1 purchase worth up to $15,000 on 04/14 and 1 sale worth up to $15,000 on 05/15.
REPRESENTATIVE JOSH GOTTHEIMER sold up to $15,000 on 02/18.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$CVNA Analyst Ratings

Wall Street analysts have issued reports on $CVNA in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Barclays issued a "Overweight" rating on 04/30/2026
BTIG issued a "Buy" rating on 02/19/2026

To track analyst ratings and price targets for $CVNA, check out Quiver Quantitative's $CVNA forecast page.

$CVNA Price Targets

Multiple analysts have issued price targets for $CVNA recently. We have seen 15 analysts offer price targets for $CVNA in the last 6 months, with a median target of $465.0.

Here are some recent targets:

Brad Erickson from RBC Capital set a target price of $85.0 on 06/11/2026
Marvin Fong from BTIG set a target price of $97.0 on 06/05/2026
Michael Montani from Evercore ISI Group set a target price of $86.0 on 06/02/2026
John Babcock from Barclays set a target price of $93.0 on 05/14/2026
Michael Baker from DA Davidson set a target price of $335.0 on 05/01/2026
Andrew Boone from Citizens set a target price of $515.0 on 05/01/2026
Chris Pierce from Needham set a target price of $600.0 on 04/30/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.